Non-Lucrative Visa in Spain
An overview of the non-lucrative visa.
One of the most widely accessible residence permits in Spain.
You can live and work in Spain with your family. However, you are not permitted to work for a Spanish business. You are only able to work for a foreign business.
Non-EU citizens are only required to have a non-lucrative visa and not European residents.
You are eligible to purchase a property or in owning stock assets in Spanish businesses.
This can be utilised as a tourist visa within Europe.
Living in Spain consecutively for five years will grant you a permanent residency permit. You will then be allowed to work for Spanish businesses.
What is a non-lucrative visa?
The non-lucrative visa is a form of non-profit residency permit that grants non-EU citizens and their family, who have sufficient economic means, to reside in Spain, without permission to work for a Spanish business.
After entering the Spanish territory, the visa allows permit holders to reside in Spain for one year.
When the one-year is complete, the permit can be renewed and will last for 2 years. After 5 years, the permit holders receive permanent residency.
One of the main constraints of the non-lucrative visa is that all permit holders cannot carry out any type of economic or professional activity in Spain. This is only a permit for residence.
Though no investment is required to obtain the permit, a caveat of the non-lucrative visa is that permit holders will need to display a sufficient economic well being. Once sufficient funds have been determined and that the stay in Spain is only for residence, it will be highly likely that you can receive the visa successfully.
Who benefits from this visa?
Though it may seem negative that the visa does not allow the permit holders to work in Spain, this visa is still one of the most viable options for non-EU citizens, United Kingdom (UK) citizens included, to reside in Spain. Who benefits the most from the visa though?
Non-EU citizens of retirement age.
Applicants who have sufficient economic funds to support themselves in Spain, without a need to work.
Individuals who will not work in the first year, but wish to transition to a professional activity from the second year onwards. The non-lucrative visa allows you to change to a work permit after the first year.
A visa for you and your family.
The non-lucrative visa can be applied to a spouse and children through a joint application.
This permit does not require the main applicant to have resided in Spain prior to a spouse and children moving to live in the country. The non-lucrative visa allows the main applicant with their family to simultaneously receive the permit at the same time.
An important requirement is that the main applicant will need to prove sufficient financial holdings to maintain expenses for them and the family throughout the residency.
Receive long-term residency, then nationality.
The non-lucrative visa grants a temporary residence permit that lasts for 1 year and requires renewing, along with the first and second 2-year renewals (5 years in total).
When applying for the next renewal, after the first 5 years, you will be able to receive a long-term residence permit that lasts for 5 years, which will then need to be renewed (10 years in total).
This will lead the permit holders on to obtaining Spanish citizenship.
Former Spanish colonies, such as a citizen from the Philippines, will only require applicants to reside for 2 years in Spain, in order to obtain citizenship.
No work, yet you can invest.
The non-lucrative visa is strict in that you are not allowed to work in Spain. However, you can perform professional activities for a foreign business and earn economic interests outside of Spain.
However, you are allowed to invest in potential avenues within Spain, including business investments.
Studies and paid internships.
The non-lucrative visa is similar to a student visa in that permit holders can be enrolled in an educational organisation to study.
Internships are created for educational means and this does include a paid internship for a business.
No investment is required.
The non-lucrative visa does not require permit holders to invest. But rather, you must prove that you already have sufficient economic means to sustain yourself in Spain. You are allowed to invest within Spain if you wish to do so.
Whereas, the Spanish Golden Visa requires permit holders to have invested in one or more of the following four options:
€2 million on Spanish treasury bonds.
€1 million in stocks or deposits in Spain.
€500,000 on one or properties.
In business projects that generate jobs.
Freedom to explore Europe.
An advantage of the non-lucrative visa is that you are allowed to travel throughout Schengen Europe for long periods of time. However, if you were interested in travelling throughout Europe more than residing in Spain then it would be worth obtaining a Tourist Visa.
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